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Wallace Foundation EIN 62-6048465 Form 990 (PDF) Claim this org

Wallace Foundation FY2021 filing

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A private foundation based in Morristown, TN. It reported about $405K in revenue for 2020. For fiscal year 2021 it reported $405K in revenue, $69K in expenses, and $656K in net assets.Pt I

Type
Private foundation / grantmaker · Nonprofit
Location
Morristown, TN
Filings
4 on file (2021–2021)
Revenue
$405KFY2021
Expenses
$69K
Net assets
$656K
People
0
Filings
4
Updates
0
More identity details & actions ⌄
EIN  62-6048465 Private foundation / grantmaker Morristown, TN
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
A private foundation based in Morristown, TN. It reported about $405K in revenue for 2020.
Money in and out
$405K revenue, $69K expenses
Bottom line
—
Grants paid & assets · FY2021
Total revenue
$405K
Pt VIII · Ln 12
Total expenses
$69K
Pt IX · Ln 25
Net assets
$656K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $337K
Total assets
656K
deployed as grants and operations
Grants paid
67K
in FY2021
Grants made
51grants
total in period
Payout rate
10%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 51 grants · $165K · 2024–2024
New Orleans Baptist Theological SemFY2024$30,000
Nolachucky Baptist Assoc Dis ReliefFY2024$16,300
United Way of Hamblen CountyTN · FY2024$16,000
Vol Chapt of Army Aviation AssocFY2024$10,000
Lakeway FcaFY2024$8,000
Challenge Golf AssociationTN · FY2024$6,000
All OthersFY2024$5,575
Fellowship of Christian AthletesMO · FY2024$4,000
Helen Ross McNabb FoundationFY2024$3,000
Run for Holland FoundationFY2024$2,500
Mid America SeminaryFY2024$2,500
Love Worth Finding Ministries INCTN · FY2024$2,500
Liberty University INCVA · FY2024$2,500
Daily Bread Community KitchenTN · FY2024$2,500
Carson-Newman UniversityTN · FY2024$2,500
Lakeway Christian SchoolsFY2024$2,000
Gsm Council Boys Scouts of AmericaFY2024$2,000
Go Tell MinistriesFY2024$2,000
See all 51 grants →

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV17
Average grantPart XV$3K
Median grantPart XV$2K
Largest grantPart XV$30K
Top cause focusNTEEReligion (8%)

Summary of the Filing

Part I · fiscal year 2021 · Form 990-PF
Revenue
$405K
FY2021
Expenses
$69K
FY2021
Total assets
$656K
FY2021
Total liabilities
$0
FY2021
Total assetsPt II$656K

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWallace Foundation
EINHdr · item D62-6048465
Principal addressHdr · item CMorristown, TN
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MTN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFJan 1964

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Officers, directors & key employeesPt VII · Sec ANot reported
See Wallace Foundation executive salaries →

Statement of Revenue

Part VIII
Contributions & grants$380K · 94%
Investment income$16K · 4%
Other revenue$10K · 2%
Contributions & grants94%$380K
Investment income4%$16K
Other revenue2%$10K
Total revenueLn 12$405K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.98 Operating & administrative $0.02
Grants & contributions paid98%$67K
Operating & administrative2%$2K
Total functional expensesLn 25$69K

Balance Sheet

Part X · end of year
CashLn 1$379K
Total assetsLn 16$656K
Total liabilitiesLn 26$0
Total net assetsLn 32$656K
Months of cash on handcomputed66.3

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $656K
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $405K
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $405K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $405K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $656K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $405K · Expenses $69K
+83%
Liabilities-to-Assets
Total liabilities — · Total assets $656K
—
Net-asset ratio
Net assets $656K · Total assets $656K
100%
People & payroll
Highest Reported Total Compensation
Individual — · Reported title — · Highest reported compensation — · Total expenses $69K
No individual compensation reported on this filing
Personnel share
not reported

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$263K revenue · ⤓ 990 PDF
FY2024$559K revenue · ⤓ 990 PDF
FY2023$3.0M revenue · ⤓ 990 PDF
FY2022not on file
FY2021$405K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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